Glaston Reports Strengthening Financial Climate in First Half

Officials from glass machinery supplierGlaston Corp. reported a strengthening financial climate in the first half of 2013, according to the company’s January to June interim report, published Aug. 8. “Despite market uncertainty, Glaston’s second quarter went according to our expectations," President and CEO Arto Mets?nen said in the report. "Now that our financial position has been strengthened, Glaston’s main goal for 2013 is a positive operating result."

Orders received January to June totaled EUR 55.8 million, compared to EUR 56.4 million during the same period in 2012. Consolidated net sales in January to June totaled EUR 60.1 million, up slightly from the same period in 2012 when sales reached EUR 58.7 million. Second quarter net sales for the quarter were EUR 33.7 million, up from EUR 28.5 million in second quarter 2012, according to the report.

Company officials say they expect the cautious pick-up in the market to continue in the second half of the year. In North America, the company reported continued recovery of the construction industry, and a more positive market outlook than in 2012. Glaston also reported continued challenges for the new glass processing machines market, but perceived a recovery in demand for heat treatment machines in the second quarter.

Looking ahead, Glaston adjusted its outlook for 2013, expecting the year's net sales to match 2012 levels, and earnings before interest and taxes to be positive, according to the report.

Read the full financial report